Jersey LP

A limited partnership is a partnership made between one or more General Partners and one or more other persons who are limited partners. The general partner tends to be responsible for the management of the limited partnership and is generally a limited liability company. Limited partners are the investors who do not participate in the management of the limited partnership. Jersey Limited Partnerships are regularly used for collective investment funds, private investment structures and family planning. They have also proved popular for structures and transactions where tax transparency is important.

Jersey LP Key Features

Any general partner will have unlimited liability for the debts of the partnership, whereas the limited partners will be protected by limited liability provided that they have not participated in the management of the partnership;

It must consist of one or more general partners and one or more limited partners;

There is no limit on the number of limited partners;

A limited partner is permitted to assign its interest (subject to the terms of the partnership agreement);

A limited partner may contribute cash or property;

A limited partnership may be established for a specific period or for an unlimited period of time;

There are no requirements for an audit, filing of an annual return or annual fee; and

Registration and Control of Borrowing Order (“COBO”) consent will be required, both of which are standard applications.

Jersey LP Legal Requirements

Jersey LP

Corporate Details

General

Registered Office in Jersey

Yes

Shelf company availability

Yes

Share capital or equivalent

Standard currency

USD

Permitted currencies

Any

Directors | Officers | Partners

Minimum number

1 Limited Partner and 1 General Partner

Maximum number

None

Location of meetings

No

Corporate Partnerships allowed

Yes

Company Secretary

Required

No

Accounts

Requirements to prepare

Yes

Audit requirements

No

Requirements to file accounts

Yes

Jersey LP Tax Treatment

Jersey limited partnerships are not liable to any Jersey income tax burden

Jersey LP Duration for Set-up

2 Weeks

Distinctive Benefits of the Jersey LP

There is no limit on the number of limited partners;

Jersey limited partnerships are not liable to any Jersey income tax burden